Nkarta’s (NKTX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research report report published on Wednesday, Benzinga reports. Needham & Company LLC currently has a $13.00 price target on the stock.

A number of other research firms also recently issued reports on NKTX. Canaccord Genuity Group cut their price objective on shares of Nkarta from $16.00 to $15.00 and set a buy rating for the company in a report on Friday, May 10th. HC Wainwright reiterated a buy rating and issued a $23.00 price target on shares of Nkarta in a research note on Wednesday, July 24th. Finally, Raymond James upgraded Nkarta from an outperform rating to a strong-buy rating and set a $16.00 price objective on the stock in a research note on Wednesday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $18.20.

Nkarta Price Performance

NKTX opened at $5.07 on Wednesday. The business has a fifty day simple moving average of $5.95 and a 200 day simple moving average of $8.08. Nkarta has a 1 year low of $1.28 and a 1 year high of $16.24. The company has a market capitalization of $250.54 million, a PE ratio of -2.16 and a beta of 0.83.

Nkarta (NASDAQ:NKTX) last announced its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.15. Equities analysts anticipate that Nkarta will post -2.27 earnings per share for the current fiscal year.

Insider Activity at Nkarta

In other Nkarta news, insider Alicia J. Hager sold 3,396 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total transaction of $27,168.00. Following the completion of the sale, the insider now directly owns 103,819 shares in the company, valued at $830,552. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in shares of Nkarta in the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC boosted its position in Nkarta by 1,887.0% in the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock valued at $28,000 after buying an additional 4,491 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Nkarta during the fourth quarter worth $70,000. Simplicity Solutions LLC acquired a new position in shares of Nkarta during the fourth quarter worth $70,000. Finally, SG Americas Securities LLC bought a new position in shares of Nkarta in the 4th quarter valued at $72,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Company Profile

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.